Bondi Beachwear Pty Ltd takes out a short term loan through Witch Bank using a bill of exchange.The face value of the bill is $100 000 and it will mature in 90 days.If the interest rate quoted by the bank is 7.00% per annum what is the amount that Bondi Beachwear will receive (to the nearest dollar) ?
A) $93 803
B) $93 458
C) $92 889
D) $98 289
E) $98 303
Correct Answer:
Verified
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